This year's bull market is not an exaggeration to say that there is no bull in the bull market;
It is commonly known as selling dog meat under the guise of sheep;
According to the current situation; this round of bull market, in fact, has no bull", showing a weak state.
The following are some typical characteristics:
1. US stock trend: the market lacks independence and goes with the flow.
2. Big positive stimulus is ineffective: BTC halving, Ethereum ETF, and the support of the US presidential candidate for cryptocurrency have failed to ignite the market.
3. Weaker than big technology: Compared with technology stocks such as S&P, the trend is weak, and it follows the decline but not the rise.
4. Affected by macro data: The US macro The data and the attitude of the Federal Reserve determine the trend of the crypto market, and the autonomy is almost lost.
The volatile days in the past this month:
June 4 (positive) US JOLTs job vacancies;
June 5 (positive) US ADP employment, the first interest rate cut by the Bank of Canada;
June 6 (positive) initial and continuing unemployment claims, the first interest rate cut by the European Central Bank;
June 7 (negative) US non-farm payrolls;
June 7 (positive) US unemployment rate;
June 12 (positive) US May CPI;
June 12 (negative) Fed meeting dot plot, Powell's speech is hawkish;
June 13 (positive) US May PPI monthly rate;
At the end of May, investors expected these favorable market conditions to achieve a certain amount of wealth growth, but the fact is that it is like a blood-sucking leech, causing the entire crypto market to wail;
For the current situation, my suggestion is to wait and see if you have not opened a position; for investors with full positions, you should first take inventory of the currencies you hold. If you do not hold strong currencies, now is a good time to change your position. Choose those strong currencies with potential and prepare for the upcoming altcoin season.
#BinanceContractChampionship
And For investors with light positions, you can focus on strong currencies and start building positions in batches. Remember, don't try to buy at the bottom, because the reversal of the currency circle may come at any time. It is particularly important to maintain a rational and cautious attitude at present.
If you are confused about the market, you might as well click on my avatar and follow me. At present, I am planning some potential currencies; if you are not good at screening strong currencies, you can refer to my choice.
